Techs Power Higher

Technology stocks posted solid gains on Friday, propping up sagging blue chips in the process.

Cisco didn’t see much follow-through a day after gaining 6% on blow-out results, but several other technology bellwethers gained on optimism that they can duplicate Cisco’s feat next week.

HP , NetApp and Applied Materials gained ahead of their results, while Dell investors showed a little caution ahead of its earnings report.

Intel edged higher on plans to build a $1 billion plant in Vietnam. Oracle , Qualcomm and eBay were other volume gainers.

A number of companies declined on earnings news, among them Shanda , Tom Online , Nvidia , Merge , InfoSonics and Cambridge Display .

Applied Micro gained 5% after topping forecasts.

Blue chip stocks were mixed after traders cheered results from AIG , but punished Disney on its report.

The Nasdaq gained 13 to 2389, the S&P 500 added 2 to 1380, and the Dow climbed 5 to 12,108. Volume declined to 2.29 billion shares on the NYSE, and 1.75 billion on the Nasdaq. Advancers led 21-11 on the NYSE, and 18-11 on the Nasdaq. Upside volume was 56% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 210-19 on the NYSE, and 107-53 on the Nasdaq.

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